Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD attracts selling interest, vulnerable to more downside

• EUR/AUD declined on  Thursday as Australian dollar was boosted    by hawkish comments from its central bank chief.

• RBA Governor Michele Bullock warned that inflation had become increasingly driven by domestic demand, requiring a more "substantial" response from interest rates.

• The is pair heading towards the lower 23.6%fib, as near term direction of the pair is likely to be driven by current price action.  

• Technical are bearish, daily RSI is negative at 44, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.6664 (5DMA ), any close above will push the pair towards 1.6718 (5DMA).

• Strong support is seen at 1.6559 (23.6%fib ), and break below could take the pair towards 1.6457(Nov 3rd low).

Recommendation: Good to sell on  around 1.6630, with stop loss of 1.6740 and target price of 1.6550
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.